By Muhammad Ali
6:13 AM UTC
Shares of the Innate Pharma S.A. (IPHA) stock were climbing in the premarket trading session today on January 25, 2022. IPHA stock price saw a push of 4.31% to reach $3.87 a share at the time of this writing. The stock was gloomy in the previous trading session and went down by 9.95% at closing.
Innate Pharma S.A. is a biotechnology company that is engaged in the development and commercialization of therapies to treat oncology indications. IPHA stock has a market cap of $305.41 million and 74,167 average trading volume. Let’s understand the current momentum of this stock.
IPHA stock is hot among investors after the recent release of a number of shares and voting rights by the company. The total no of outstanding shares includes 79,542,627 ordinary shares, 6,514 Preferred Shares 2016, and 7,581 Preferred Shares 2017. The company reported a total no of theoretical voting rights of 80,300,467 and exercisable voting rights of 80,281,892 as of January 1, 2022.
The total no of theoretical voting rights act as a base for the calculation of crossing of the shareholding threshold. The total no of exercisable voting rights is calculated by ignoring the shares held in treasury by the Company, with suspended voting rights.
On January 5, 2022, the company announced the non-dilutive financing of €28.7M from Société Générale and BNP Paribas in the form of two loans. The initial term for these two loans is one year with five years extension option. This financing will help the company in its research and development activities and strengthen its cash position. A positive prospect for the shareholders of IPHA stock!
Innate Pharma in the mid of December announced that it had dosed the first patient with IPH6101/SAR443579 in a Phase ½ clinical trial. It is the first NKp46/CD16-based NK cell engager in patients suffering from various types of blood cancer. The company is evaluating the pharmacokinetics, pharmacodynamics, and initial clinical activity of IPH6101/SAR443579 in CD123-expressing various hematological malignancies.
According to the third recent financial results, Innate Pharma generated €10.3 million in the first nine months of 2021. This represents a significant decline as compared to €33.6 million in the third quarter of 2020. The company had €141.8 million in cash, cash equivalents, and financial assets as of September 30, 2021. The financial liabilities of IPHA stock were €16.1 million at the same time.